Bristol-Myers Squibb Company (NYSE:BMY)‘s stock had its “buy” rating reaffirmed by investment analysts at Goldman Sachs Group, Inc. (The) in a report issued on Thursday. They presently have a $65.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $62.00. Goldman Sachs Group, Inc. (The)’s target price suggests a potential upside of 3.44% from the company’s current price.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets reiterated a “sell” rating and set a $49.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 target price (up from $63.00) on shares of Bristol-Myers Squibb in a research report on Thursday, August 24th. Vetr downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 target price on the stock. in a research report on Tuesday, August 22nd. Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Wednesday, August 16th. Finally, Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $62.54.

Bristol-Myers Squibb (NYSE:BMY) traded up 4.96% on Thursday, reaching $62.84. The company’s stock had a trading volume of 17,301,923 shares. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $63.47. The stock has a market cap of $103.05 billion, a PE ratio of 22.95 and a beta of 1.18. The company’s 50 day moving average price is $57.32 and its 200-day moving average price is $55.65.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post $2.98 EPS for the current year.

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In other news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Beacon Capital Management increased its holdings in shares of Bristol-Myers Squibb by 400.0% in the fourth quarter. Beacon Capital Management now owns 5 shares of the biopharmaceutical company’s stock worth $0 after purchasing an additional 4 shares during the last quarter. Wills Financial Group Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.3% in the second quarter. Wills Financial Group Inc. now owns 3,509 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 10 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 12 shares during the last quarter. Ariel Capital Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 0.4% in the fourth quarter. Ariel Capital Advisors LLC now owns 3,865 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 14 shares during the last quarter. Finally, West Coast Financial LLC increased its holdings in shares of Bristol-Myers Squibb by 0.3% in the third quarter. West Coast Financial LLC now owns 4,806 shares of the biopharmaceutical company’s stock worth $259,000 after purchasing an additional 14 shares during the last quarter. 68.80% of the stock is currently owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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